The days of being grudgingly accepted as a necessary cost center are numbered for Marketing. Today, the writing is on the wall: Either demonstrate how Marketing will contribute to the company's top-line revenue growth... or be prepared to change careers.
CMOs and VPs of marketing need to step up and take responsibility for revenue production. That means coming to the table with a revenue marketing forecast and aligning tightly with Sales to ensure the revenue goal is met.
Some companies are even assigning revenue quotas to Marketing and compensating marketing executives on meeting those quotas. Your company might be next.
As a marketer, you can view this trend as a negative, or you can approach it as an opportunity to finally achieve credibility within your company, especially with the executive suite. Showing a return on investment is the entrée to a strategic place at the executive table.
The big question is how to make the transition from being a demand generation-focused organization to becoming a revenue-generating organization.
There is no cookie-cutter solution, but there are proven best-practices being used by savvy marketers to successfully drive revenue-focused marketing (also see the infographic at the end of this article).
Five Best-Practices for Becoming a Revenue Marketer
1. Start at the top to create a revenue-generation marketing plan